Bank of New York Mellon Corp Has $9.09 Million Stake in Leggett & Platt, Incorporated (NYSE:LEG)

Bank of New York Mellon Corp trimmed its holdings in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 45.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 946,842 shares of the company's stock after selling 786,653 shares during the period. Bank of New York Mellon Corp owned 0.71% of Leggett & Platt worth $9,090,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. South Dakota Investment Council increased its stake in Leggett & Platt by 12.6% in the fourth quarter. South Dakota Investment Council now owns 496,078 shares of the company's stock valued at $4,762,000 after purchasing an additional 55,427 shares in the last quarter. Olympiad Research LP bought a new stake in Leggett & Platt in the fourth quarter valued at approximately $226,000. Ieq Capital LLC increased its stake in Leggett & Platt by 80.4% in the fourth quarter. Ieq Capital LLC now owns 100,677 shares of the company's stock valued at $966,000 after purchasing an additional 44,870 shares in the last quarter. CIBC Asset Management Inc increased its stake in Leggett & Platt by 7.7% in the fourth quarter. CIBC Asset Management Inc now owns 13,986 shares of the company's stock valued at $134,000 after purchasing an additional 1,001 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Leggett & Platt in the fourth quarter valued at approximately $108,000. 64.23% of the stock is owned by institutional investors.

Leggett & Platt Stock Up 0.3 %

Shares of NYSE:LEG traded up $0.03 during midday trading on Tuesday, hitting $8.10. The stock had a trading volume of 2,053,485 shares, compared to its average volume of 2,013,422. Leggett & Platt, Incorporated has a 12 month low of $7.91 and a 12 month high of $19.33. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70. The business's 50-day simple moving average is $9.79 and its 200-day simple moving average is $11.23. The company has a market cap of $1.09 billion, a P/E ratio of -2.17 and a beta of 1.11.

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Leggett & Platt (NYSE:LEG - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.21. The company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.03 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. On average, sell-side analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, March 14th. Leggett & Platt's dividend payout ratio is presently -5.36%.

Analyst Ratings Changes

Several research analysts have recently weighed in on LEG shares. The Goldman Sachs Group reduced their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. Truist Financial reduced their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating for the company in a report on Wednesday, January 29th.

About Leggett & Platt

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.